On-line transaction and auctions systems are known. For example, eBay.com of San Jose, Calif. hosts an enormously popular on-line auction facility allowing users to auction and buy a wide variety of items, such as automobiles, electronics and services. Of course, there are a vast array of on-line auction facilities, some of which are highly specialized to a particular category, such as firearms, automobiles, and the like. To facilitate and promote their use, such on-line auction facilities offer tools and functionality to assist the user. For example, on-line auction facilities post buying and selling tips, as well as generalized descriptions of the on-line auction process and available options, such as reserve and “buy-it-now” prices. On-line auction facilities also offer tools that facilitate tracking and management of items being sold by a particular user.
While the on-line auction facilities assist the user in posting auctions and/or placing bids, such on-line auction facilities do not offer functionality directed to computing or suggesting optimal auction parameters to achieve the highest price. For example, the prior art does not disclose or suggest a system that allows the use to predict the final auction price for a given item. In addition, the prior art does not disclose or suggest a system that computes auction parameters intended to achieve the highest final auction price. Rather, the user, especially un-experienced or novice users, are left to guess at a suitable starting price and duration for a contemplated auction. Embodiments of the present invention substantially fulfill these needs.